Recent US economic data is looking better and a solid jobs report for November would increase the likelihood that the Federal Reserve would start to scale back bond buying at its meeting next month, a senior Fed official said on Wednesday.
Minutes of the Fed's October 29-30 policy meeting, released on Wednesday, also showed officials discussed how to distinguish between asset buying and forward interest rates guidance, including how to enhance rate guidance once they start to taper bond purchases.
Given the that the market is in a bullish trend it could well end the current correction.
Another round of economic data Thursday provided evidence that Europe's recovery from recession is becoming broad-based and self-sustaining.<br /><br />
ajan said low rates could have unintended consequences. He says, for instance, that they could encourage people in their 60s to save instead of spend - because the low returns mean they are unable to reach their retirement savings goal.
A ruling by Italy's supreme court upholding a tax fraud conviction against former premier and centre-right leader Silvio Berlusconi has left the fate of the country's fragile ruling coalition resting in the balance.
Ratings agency Fitch added to Italy's mounting problems on Friday by cutting its credit rating due to the political uncertainty after last week's election, deep recession and rising debt.
The European Central Bank, or ECB, on Thursday revised its 2013 forecast for the eurozone downward, with the area's economy now expected to contract 0.40 percent.
European Commission President Jose Manuel Barroso will outline the proposal in his annual "state of the union" address, which will also set out a path towards deeper economic integration across the eurozone and the wider EU.
Economic situation in the troubled euro-zone is improving because of significant measures taken up by the member-nations, contrary to the mainstream media perception and market beliefs, European Financial Stability Facility Chief Executive Klaus Regling has said.
The Indian rupee was lower in opening trade on Friday, in line with the weak euro.
Central banks of most economies are bracing themselves for the eventful weekend with the Greek elections and polls in Egypt and France. Banks will ensure there is enough liquidity.